Real estate market in Dubai

It is not in vain that Dubai has the reputation of one of the world’s centers of luxury: the most remarkable accomplishments of architectural thinking are focused here, hotel categories reach seven stars, and the magnificence of mansions and apartments is amazing. But to live in the “city of the future” and want its advantages, today it is not required to evolve the owner of a penthouse or an undivided villa on the coast.

It is now likely to purchase cheap apartments in Dubai not only in peripheral regions but also in numerous central relaxing communities supplied with the advantages of infrastructure. Cheap in price, but not in rate, can be real estate both at the location of the building (off-plan projects inDubai) and in the part of deals of finished things. Studios and larger opportunities at Jumeirah Village Circle, JLT, and Dubai Marina suggest a broad range of opportunities.

Real Estate in Dubai

In 2022, the Dubai real estate market experienced an unprecedented rise. According to the emirate’s Land Department, already in the first month of the year, 75% more transactions were registered than in January 2021, and in the first half of the year, the growth compared to the same period last year was 84%. Along with the number of transactions, their total cost and the price per square meter have increased significantly.

The surge of activity in the market is a consequence of the increased interest in Dubai real estate from foreign buyers, including many Europeans.

There are several reasons for this interest:

  • open borders of the UAE during the pandemic;
  • preferential taxation system, which caused the relocation of some companies to Dubai;
  • the opportunity to obtain residency in Dubai when buying an apartment worth $250,000 or more;
  • permission to pay for transactions with an alternative currency, including crypto money.

The payback of flats and apartments for sale in Dubai is twice as high as compared to real estate in Europe. Rent allows you to receive 7-11% per annum as passive income.

Analysts predict further growth in transactions and prices in the Dubai real estate market. This is facilitated by the state policy aimed at attracting foreign investors to the country.

Expatriates, who make up 85% of the total population of the city, have both their apartments and rented accommodation in Dubai. Hundreds of contracts for the lease of houses and apartments are concluded daily in the metropolis.

When planning a move to this city, many people think first to live in rented housing and then buy their own, so it would not be out of place to find out the conditions under which apartments are rented here.

What is the minimum period for renting an apartment in Dubai and how much will it cost? How to pay rent? We answer these questions.

Property in Dubai: terms of rent

You can legally rent an apartment in Dubai on the following conditions:

  1. The minimum period of official rental housing is one year.
  2. Rent is paid by bank checks.
  3. The annual amount to be paid to the landlord can be divided into two, six, or more parts.

In addition to paying for living in an apartment, the tenant will be charged a deposit for furniture, internet, and utilities, as well as money for registration and agent commission.

Apartments in Dubai for rent: opportunities to save money

Real estate prices in Dubai are high, and not everyone who moves is ready for the material costs that await, if not looking for cheaper ways. For example, it is not necessary to rent an entire apartment, for which many people pay more than a million a year.

You can reduce payments by renting an isolated room in a detached house, in a villa. In a month, such housing will cost about 72 thousand rubles (or 4 thousand 500 dirhams), which includes the cost of utilities, cleaning, and the Internet.

In this case, you will have to live with neighbors with whom you will share the kitchen. The bathroom and toilet can be either separate in each room or shared (for example, two toilets and two bathrooms per house).

Villas in Dubai have their parking lots, so the question of where to leave the car should not arise for tenants.

Apartments for sale in Dubai

When moving to Dubai, many people immediately purchase a house or apartment in a residential complex, because rent, even if you look for inexpensive options, takes a lot of money. Emirates.Estate has selected accommodations for every taste and budget. On the website of the web aggregator, you will find villas on the seashore, and apartments in modern residential complexes, including penthouses and townhouses. In addition, here you can find accommodation in Dubai for rent.

Jaylin
Jaylin

I'm a professional blogger, marketer, and entrepreneur. I'm Passionate for writing and focusing on the informative article about Fashion, Health, Beauty, Travel and many more.

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